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Page 1 of 2
KEY INVESTOR INFORMATION
This document provides you with key investor information about this Fund. It is not marketing material. The information is re quired by law to help you understand the nature and the risks of investing in this Fund. You are advised to read it so you can make an informed decision about whether to invest. Global Hybrid Bond Fund, Class I, Accumulation shares shares, USD, a sub - fund of Aviva Investors (ISIN: LU3303701141). The Fund is managed by Aviva Investors Luxembourg S.A. OBJECTIVES AND INVESTMENT POLICY
Objective: The objective of the Fund is to earn income and increase the value of the Shareholder’s investment over the long term (5 years or more). Investment Policy: The Sub - Fund invests in hybrid bonds from anywhere in the world, including up to 30% in emerging markets. Hybrid bonds have both debt and equity characteristics, they are subordinated bonds, which rank between debt and equity in a company’s capital structu re. The Sub - Fund will seek to enhance income through a diversified portfolio of hybrid securities and will seek the most attractive opportunities irrespective of credit rating. Specifically, at all times the Sub - Fund invests at least 70% of total net assets (excluding ancillary liquid assets, eligible deposits, money market instruments and money market funds) in hybrid bonds issued by non - financial companies. This may include convertible bonds, contingent convertible bonds, preferred stock s and perpetual bonds. A minimum of 70% of total net assets will be in developed market issuances and a minimum of 50% of total net assets will be in investment grade issuances. The Sub - Fund may invest in shares or units of UCITS or other UCIs and may also invest in other Debt and Debt - Related Securities (including subordinated debt) from anywhere in the world. Additionally, excluding ancillary liquid assets, eligible deposits, money market instruments and money market funds, the Sub - Fund may not invest mor e than: - 20% of the net assets (in aggregate) in AT1/RT1 and contingent convertible bonds - 10% of the net assets in preferred stocks - 10% of the net assets in convertible bonds - 10% of the net assets in unrated securities - 10% of the net assets in distressed securities - 5% of the net assets in equities (via exercising conversion rights) For liquidity management purposes, the Sub - Fund may also hold ancillary liquid assets within the meaning of point 9 listed under “Permitted Securities and Transaction” of section “General Investment Restrictions and Eligible Assets for UCITS Fund”. For the same purposes, the Sub - Fund may also invest on an ancillary basis in eligible deposits within the meaning of point 8 of the same section referred to above, money market instruments or money market funds. Under unfavourable market circumstances during whic h the investment strategy would become impossible to continue implementing and the Sub - Fund would no longer be able to achieve its investment objective, the Sub - Fund may, on a temporary basis, invest up to 100% of its net assets in such assets. For the avo idance of doubt, investment in such assets is not part of the core investment policy of the Sub - Fund. Sustainability Disclosures: This Sub - Fund promotes environmental and social characteristics however does not have a sustainable investment objective. To be eligible for investment, all investments that are selected as part of the Investment Manager’s ESG analysis must follow good go vernance practices and not be excluded by the Investment Manager’s ESG Baseline Exclusions Policy. It may however not be possible to perform ESG analysis on cash, derivatives and other third - party collective investment schemes. T he Investment Manager actively engages with companies and uses voting rights with the aim of positively influencing company behaviour and helping to create competitive returns. The Investment Manager integrates qualitative and quantitative data on adverse sustainability impacts into its investment processes. Whilst the Sub Fund may invest in underlying investments that contribute to climate change mitigation and/or climate change adaptation, the Sub - Fund does not make any minimum commitment to invest in one or more environmentally sustainable investments. The ESG analysis and considerations described are incorporated into the investment process but may not always have a material impact on investments in the Sub - Fund. For detailed information on the impact of the ESG analysis on the Sub - Fund’s benchmark at a point in time, please see the website www.avivainvestors.com. Further information regarding how the Investment
Manager integrates ESG into its investment approach (including information on its ESG Baseline Exclusions Policy) and how it engages with companies is available in the Responsible Investment Philosophy section and on the website www.avivainvestors.com. Please also refer to the ESG Screening Impact appendix to this Prospectus, which provides an over view of specific ESG considerations that may apply to this Sub - Fund. Further details can also be found in the Annex II – Precontractual Disclosure. Derivatives and Techniques: The Sub - Fund may use derivatives for investment purposes by creating both long and synthetic covered short positions. The Sub Fund’s derivatives may include futures, options, swap contracts, swaptions, currency forwards, foreign exchange options, interest rate futures, credit default swaps, interest rate swaps and total return swaps. The Sub - Fund may also use derivatives for hedging and for efficient portfolio management. Securities lending: Expected level: 10% of total net assets; maximum: 20%. Securities made available for lending: all securities held by the Sub - Fund from time to time. Total Return swaps: Expected level: 0% of total net assets; maximum: 30%. Underlying securities in scope: individual credit securities and credit indices. Reference Currency: USD Strategy: The Sub - Fund is actively managed with an unconstrained and flexible investment style, allowing the Investment Manager the freedom to invest in the broadest range of fixed income markets. The Investment Manager will seek to blend the key asset classes inc luding corporate, government, quasi - government and supranational bonds of all credit qualities along with ABS, MBS and CLOs to effectively manage the overall risk and reward profile of the Fund. The Fund's allocation to these asset classes will va ry over time, reflecting the Investment Manager's view of both the changing longer - term market outlook and shorter term opportunities. The Investment Manager will focus on identifying what they judge to be attractive opportunities through assessment of the business strengths and risks associated with the underlying companies, the valuation of the bonds relative to the market, the views of independent risk rating agencies, and any other relevant factors, whilst also taking advantage of short - term opportuniti es when they arise. Benchmark (performance comparison and risk management) ICE BofA Global Hybrid Non - Financial 5% Constrained Index The Sub - Fund’s performance is compared and the Sub - Fund’s global exposure is monitored against the ICE BofA Global Hybrid Non - Financial 5% Constrained (the “Benchmark” or the “Index”), however the reference benchmark is not aligned with all of the environm ental or social characteristics promoted by the Sub - Fund. The Sub - Fund is actively managed and does not base its investment process upon the Index, which is only a representation of the investment universe. Therefore the Sub - Fund will hold hybrid and non - hybrid bonds that are not part of the Index and will only h old a relatively small proportion of hybrid and non hybrid bonds relative to the number in the Index. Sub - Fund Dealing Day Orders to buy, switch and redeem Shares are processed each Business Day. Other information: You can buy and sell shares on demand on any full bank business day in Luxembourg. Recommendation: this Fund may not be appropriate for investors who plan to withdraw their money within 5 years. This is an accumulation share class and any income from the Fund will remain in the Fund and is reflected in the share price. For full investment objectives and policy details please refer to the Prospectus.
RISK AND REWARD PROFILE
1 2 3 4 5 6 7
Lower risk Higher risk Typically lower rewards Typically higher rewards This indicator is based on historical data, calculated using European Union rules, and may not be a reliable indication of the future risk profile of the Fund. The risk and reward category shown is not guaranteed to remain unchanged and may change over time. The lowest category does not mean that the investment is 'risk free'. The value of investments and the income from them will change over time. The Fund price may fall as well as rise and as a result you may not get back the original amount you invested. The Fund has been allocated a risk number based on the historic volatility of its share price or where insufficient information is available appropriate asset classes. Currency risk: Changes in currency exchange rates could reduce investment gains or increase investment losses. Exchange rates can change rapidly, significantly and unpredictably.
Emerging markets risk: Compared to developed markets, emerging markets can have greater political instability and limited investor rights and freedoms, and their securities can carry higher equity, market, liquidity, credit and currency risk. Credit risk: A bond or money market security could lose value if the issuer's financial health weakens. Derivatives risk: Derivatives are instruments that can be complex and highly volatile, have some degree of unpredictability (especially in unusual market conditions), and can create losses significantly greater than the cost of the derivative itself. Liquidity risk: Certain assets held in the Fund could, by nature, be hard to value or to sell at a desired time or at a price considered to be fair (especially in large quantities), and as a result their prices could be very volatile. Operational risk: Human error or process/system failures, internally or at our service providers, could create losses for the Fund. Collateralised Loan Obligations: In addition to standard debt and ABS risks (e.g., interest rate, credit and default risk), CDOs and CLOs involve further risks, including: (i) collateral cash flows may be insufficient to meet interest or other payments; (ii) collateral may decline in val ue, be downgraded or default; (iii) a Fund may hold subordinated tranches exposed to higher losses; and (iv) their complex structures can be hard to fully assess, creating valuation challenges, potential disputes with issuer s, or unexpected investment outcomes.
Page 2
Page 2 of 2 This key investor information is accurate as at 17 June 2026
Distressed securities Risk: Securities issued by companies/public bodies undergoing financial pressure due to possible bankruptcy, re - structuration, or other financial turmoil. Changing market conditions may have a greater adverse impact on such securities. Interest rate risk — bonds: When interest rates rise, bond values generally fall. This risk is generally greater for longer - term bonds and for bonds with higher credit quality. Contingent convertibles securities Risk: Contingent convertible bonds (CoCos), often classified as Additional Tier 1 (AT1) capital instruments, are high yield, high risk hybrid securities issued primarily by banks. They automatically convert to equity or are written down when the issuer’s capital deteriorates. This makes them structurally riskier than traditional bonds. Hybrid Securities / perpetual securities Risk: Hybrid or subordinated debt is subject to specific risks of non - payment of coupons and loss of capital under certain circumstances. For non - financial bonds, hybrid debt is deeply subordinated debt, which implies a low recovery rate in the event of issuer d efault. Convertible bonds Risk: Convertible bonds could earn less income than comparable debt securities and less growth than comparable equity securities, and carry credit, default, equity, interest rate, liquidity and market risks.
Leverage Risk: A small price decline on a "leveraged" underlying investment will create a correspondingly larger loss for the Fund. A high overall level of leverage and/or unusual market conditions could create significant losses for the Fund.. Counterparty risk: The Fund could lose money if an entity with which it does business becomes unwilling or is unable to meet its obligations to the Fund. Sustainability Risk: This risk is any environmental social or governance event or condition that could impact the value of investments. The Investment Manager primarily relies on its in - house ESG analysis and climate risk indicators to categorise the potential level of Sustain ability risks in each subfund. The level of sustainability risk may fluctuate depending on which investment opportunities the Investment Manager identifies. This means significantly and unpredictably. Perpetual Bonds Risk: Perpetual bonds are fixed income securities with no maturity date. Under certain market conditions, this may result in additional liquidity risk. Under exceptional market circumstances, the liquidity of perpetual bonds may be limited, which may lead to a n egative impact on the sale price, leading to a decrease in performance Full information on the risks applicable to the Fund is detailed in the Prospectus.
One - off charges taken before or after you invest* Entry charge 5.00% Exit charge None Charges taken from the Fund over a year Ongoing charges 0.60% Charges taken from the Fund under certain specific conditions Performance fee None *This is the maximum that might be taken out of your money before it is invested / before the proceeds of your investment are paid out. The charges you pay are used to pay the costs of running the Fund, including the costs of marketing and distributing it. These charges reduce the potential growth of your investment.
The entry and exit charges shown are maximum figures. In some cases (including when switching to other funds or share classes in Aviva Investors) you might pay less – you can find the actual entry and exit charges from your financial adviser/distributor. The ongoing charges figure shown here for this new share class is an estimate of the charges. The UCITS annual report for each financial year will include detail on the exact charges. The figure for ongoing charges excludes performance fees and portfolio t ransaction costs, except in the case of an entry/exit charge paid by the Fund when buying or selling units in another collective investment undertaking. A switching charge of up to 1% may be applied when switching to other funds or share classes in Aviva Investors. For more information about charges, including a full explanation of any performance fee (if applicable) please see the charges sections of the Fund's Prospectus.
PAST PERFORMANCE
Share Class
ICE BofA Global Hybrid Non Financial 5% Constrained Index
2021 2022 2023 2024 2025
Past performance is no guide to future performance. The past performance shown in the chart opposite takes into account all charges except entry charges. The Share Class was launched on 17 June 2026. Performance is calculated in the Share Class currency which is USD. Source: Aviva Investors/Morningstar as at 31 December 2025.
PRACTICAL INFORMATION
BNY Mellon, Asset Servicing, 2 - 4, rue Eugène Ruppert - L - 2453 Luxembourg Other information on Aviva Investors, copies of its Prospectus and of its latest annual and semi - annual reports, may be obtained free of charge, in English, from Aviva Investors Luxembourg S.A., 2 rue du Fort Bourbon, Luxembourg, L 1249, or from the websi te www.avivainvestors.com where the latest available price of shares in the Fund and information on how to buy/sell shares can also be accessed. The Transfer Agent for this fund is BNY Mellon, Transfer Agency Lux, Asset Servicing, 2 - 4, rue Eugène Ruppert - L - 2453 Luxembourg. You may switch between other funds or share classes in Aviva Investors subject to provisions of the Section "Investing in the Sub - Funds" of the Prospectus. Aviva Investors is subject to the tax laws and regulations of Luxembourg. This might have an impact on your personal tax position that you should verify with a tax advisor in your country of residence. Aviva Investors is an open ended investment company organised as a Société d'Investissement à Capital Variable (SICAV) with several sub - funds. This key investor information document describes one sub - fund of the SICAV. The
liabilities of each fund are segregated and the assets of this Fund will not be used to pay debts of other funds. Aviva Investors Luxembourg S.A. may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the Prospectus of the Fund. The details of the up - to - date remunerat ion policy of the Management Company, including the composition of its remuneration committee, a description of the key remuneration elements and an overview of how remuneration is determined, are available on the website www.avivainvestors.com. A paper co py of the remuneration policy can be made available upon request and free of charge at the Management Company's registered office. The Representative and Paying Agent in Switzerland is BNP Paribas, Paris, Zurich branch, Selnaustrasse 16, 8002 Zurich, Switzerland. The Prospectus, the Key Investor Information Documents (KIIDs), the Articles of Incorporation as well as the Annual and Sem i - Annual Reports may be obtained free of charge from the Representative in Switzerland. The Sub - Fund launched on 18 June 2026, is authorised in Luxembourg and supervised by Commission de Surveillance du Secteur Financier. The Management Company is authorised in Luxembourg and supervised by the Commission de Surveillance du Secteur Financier.
0
0.2
0.4
0.6
0.8
1
1.2
There is insufficient data to provide a useful indication of past performance.
Return %
CHARGES
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"text": "Fund\u2019s benchmark at a point in time, please see the website"
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